Changes in Hong Kong stocks | Zoomlion Heavy Industries (01157) rose more than 4% in the afternoon, exchange losses suppressed profit levels, and price increases are expected to drive profit recovery

Zhitong Finance App learned that Zoomlion Heavy Industries (01157) rose more than 4% in the afternoon. As of press release, it rose 3.11% to HK$5.14, with a turnover of HK$208.152 million.

According to news, Zoomlion Heavy Industries's third-quarter revenue was 12.884 billion yuan, up 4.74% year on year; net profit was 859 million yuan, down 25.66% year on year, down 29% month on month. Revenue for the first three quarters was $40.019 billion, up 7.71% year on year; net profit was 2,961 billion yuan, down 24.46% year on year.

Dongwu Securities pointed out that the company's net profit for the first three quarters was pressured by exchange losses and irregular profit and loss disturbances. Excluding the impact on exchange, it was 3.78 billion yuan, which maintained a positive increase of +1.9% over the same period last year. Looking forward to the future, the company's profit level is expected to recover as the price increase strategy is further implemented, compounding the volume of earthwork and mining sectors.